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November 18, 2008

Report: US Has Spent Over $4 Trillion to Combat Economic Crisis
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The business news channel CNBC is estimating the US government has
already spent more than $4 trillion over the past year on corporate
bailouts, loans and other efforts to combat the financial crisis. That
is more than what was spent on World War II if adjusted for inflation.
CNBC calculated the figure based on what it described as a complicated
cocktail of budgeted dollars, actual spending, guarantees, loans, swaps
and other market mechanisms by the Federal Reserve, the Treasury and
other offices of government.



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